Former CNN Chief Jeff Zucker On The Hunt For Entertainment, Media & Sports Companies

Jeff Zucker, who led CNN for nearly a decade, will manage $1 billion in capital contributed by Abu Dhabi-backed International Media Investments, IMI and Gerry Cardinale’s RedBird Capital Partners to pursue attractive M&A opportunities in the media space. and entertainment.

funding goes to meto an association called RedBird IMIand will probably look for assets similar to those of the red bird walletwhich has $7 billion in capital under management and deep ties to the entertainment industry, most recently backing Ben Affleck and Matt Damon in November in a vehicle called Artists Equity (AE).

AE is an artist-led studio expanding access to profit sharing, driving intellectual property monetization through creator partnerships, and leveraging a data-driven approach to content distribution. The first project features Affleck as a director and Damon as the lead in a film about the real-life story behind the Air Jordan brand. It is being produced in association with Amazon Studios, Skydance Sports and Mandalay Pictures.

“Historically, the success of a film was based on its performance at the box office. Now, with the rise of streaming, the business behind movie-making has inherently changed. However, Ben and I know that the power will remain in the hands of the creators, no matter which direction the industry evolves in,” said Matt Damon, AE’s chief content officer.

Essentially, the company is set up to put more…